Cheese Toast Friday, page-7

Friday again, where does the time go ? I'd start with a grilled cheese sandwich joke, but they all sound a bit too cheesy.  SPI futures did a range of 25 points last night, high being 5748, low being 5723, with a close this morning of 5745, up 10 points, on volume of 9,489 contracts. December expiration closed at 5734, up 12 points, on volume of 5,154 contracts. Based on that move,  my high resistance line is 5764, low support line is 5714, with the pivot point at 5739. The 25 gap filled last night, so the next one down is 5668, which seems far away now, but we'll see.  DOW up .23 pct, SPX down .10 pct, Canada up .32 pct and the VIX down .48 pct to 10.45 back to the Mister Happy complacent zone. Meanwhile, (cue the scary music) Wocket Man offers some verbal pyrotechnics and threatens to sink Japan and reduce the US to ashes and darkness - now that's cheesy, he needs a new Doctor Evil script writer. XJO held the 5725 Fib line yesterday. I see her busting it and going to 13, but as it's cheesy Friday, anything can happen, and usually does.



Have a nice cheesy day.